• Skip to main content

    Market Segment

    January 10, 2022

    CMC’s Q1 FY22 Results Top Earlier Record

    Written by David Schollaert

    Commercial Metals Company (CMC) reported yet another record-breaking earnings result. The Irving, Texas-based steelmaker posted net earnings from continuing operations of $232.9 million on net sales of $2.0 billion in the first quarter of fiscal 2022 ended Nov. 30, 2021, besting the previous record set the prior quarter by more than $80 million.

    Commercial Metals Co“Our record first-quarter results again demonstrate the earnings power created by our strategic transformation of CMC,” said Barbara Smith, CMC’s chairman, president and CEO. “The portfolio of assets we have built, together with the exceptional execution by our team members, enabled our company to fully capitalize on a very strong market environment.”

    David Schollaert

    David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

    Read more from David Schollaert

    Latest in Market Segment